India, Sept. 11 -- Mumbai-based fund-led real estate developer NeoLiv announced on September 11 that it has signed a management agreement to develop 47 acres of prime land in Khopoli, near Mumbai. The mixed-use villa project is expected to generate a revenue potential of Rs.600 crore.

With this project, NeoLiv expands its footprint into a fast-growing micro-market within the Mumbai Metropolitan Region (MMR). The development will feature a premium community of villas and plotted residences.

The company said in a statement that the project will have a gross saleable area of 0.36 million sq ft and a total development cost of Rs.150 crore.

The development will offer a mixed-use community comprising premium villas and plots, along with reta...